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CITY COUNCIL ON DEL MAR THEATRE- 07-21-14 8:00 SG

THE SANTA CRUZ CITY COUNCIL WILL DISCUSS THE FUTURE OF THE DEL MAR THEATRE DURING A MEETING TOMORROW (TUES). THE DISCUSSION WILL FOLLOW A STATE RULING PREVENTING THE CITY FROM RETAINING THE LANDMARK AS A LONG-TERM ASSET. THE PROPERTY MAY GO UP FOR SALE AS A RESULT.    COUNCIL MEMBERS WILL ATTEMPT TO CONVINCE STATE FINANCE OFFICIALS TO CHANGE THE RULING.     IF THE PROPERTY GOES UP FOR SALE, THE COMPANY GEORGE OW PROPERTIES WILL HAVE THE FIRST RIGHT OF REFUSAL AS A SIGNER OF THE MASTER LEASE. IF DECLINED, THE CITY WOULD BE ABLE TO BUY THE THEATRE.

 

 

 

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